OLD National Bancorp IN decreased its position in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,618,063 shares of the bank’s stock after selling 173,137 shares during the quarter. Old National Bancorp makes up approximately 0.7% of OLD National Bancorp IN’s portfolio, making the stock its 25th biggest position. OLD National Bancorp IN owned 0.51% of Old National Bancorp worth $30,193,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Old National Bancorp during the second quarter worth about $28,000. LRI Investments LLC acquired a new position in shares of Old National Bancorp in the first quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Old National Bancorp in the second quarter worth approximately $103,000. Finally, First Financial Corp IN boosted its holdings in Old National Bancorp by 176.8% in the second quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock valued at $105,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.
Insider Buying and Selling
In related news, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the transaction, the insider now directly owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
ONB has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price target on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.
Old National Bancorp Stock Down 0.8 %
NASDAQ:ONB traded down $0.16 during trading hours on Friday, hitting $19.52. 2,824,263 shares of the company traded hands, compared to its average volume of 1,696,588. Old National Bancorp has a one year low of $12.36 and a one year high of $20.43. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The company has a market cap of $6.23 billion, a PE ratio of 11.48 and a beta of 0.83. The firm’s 50-day simple moving average is $18.78 and its 200-day simple moving average is $17.78.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same period in the previous year, the company earned $0.54 earnings per share. Equities analysts predict that Old National Bancorp will post 1.84 earnings per share for the current year.
Old National Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is 32.94%.
About Old National Bancorp
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.